Even announces its 2Q14 Results
Even posts best ever total of R$913 million in deliveries
Cash generation of R$46.5 million (ex-dividends and share buyback) in the 1st half of 1014, despite the purchase of land with potential PSV of R$2.4 billion, primarily located in São Paulo
São Paulo, August 12, 2014 – Even Construtora e Incorporadora S.A. – EVEN (BM&FBOVESPA: EVEN3), a company with operations in São Paulo, Rio de Janeiro, Rio Grande do Sul and Minas Gerais, and a focus on residential developments with units priced above R$250,000, announces its results of the second quarter of 2014 (2Q14). Except where stated otherwise, the consolidated financial and operating information herein is presented in Brazilian real (R$). The main Highlights of the period are the following:
- We delivered 16 projects in 2Q14 with PSV of R$913 million (considering sales price at the time of launch, Even’s share).
- Record volume of payments from clients in the quarter, totaling R$718 million.
- Land acquisitions in the quarter representing PSV of R$1.2 billion.
- CRI issuance in the amount of R$150 million, and Real Estate CCBs of R$130 million, extending the profile of the non-SFH (Housing Finance System) debt.
- Low leverage ratio (Net Debt/Shareholders’ Equity) of 49.6%.
- Cash generation amounting to R$46.5 million (ex-dividend and share buyback) in the 1st half of 2014.
- We ranked 1st in the “2013 Top Imobiliário” award (announced in May 2014) for the Metropolitan Region of São Paulo in the “Developer” category, and 2nd in the “Builder” category.
In order to download the 2Q14 Earnings Release, please click here.
Even, aiming to ensure the fair disclosure of its results, also invites for the Conference Calls:
English Conference Call
August 13, 2014
10:30 a.m. (New York time)
11:30 a.m. (Brasília time)
3:30 p.m. (London time)
Phone: +1 (412) 317-6776
Replay: +1 (412) 317-0088
Webcast: Click Here
Portuguese Conference Call
09:00 a.m. (New York time)
10:00 a.m. (Brasília time)
2:00 p.m. (London time)
Phone: +55 (11) 3127-4971 or
Replay: +55 (11) 3127-4999
Webcast: Click Here
Participants are requested to connect 15 minutes prior to the schedule.
Replay: A conference call replay facility will be available until August 20th, 2014
In order to access the replay, dial mentioned numbers above.
CFO and IRO
Phone: +55 11 3377-3777
Fax: +55 11 3377-3780